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20121201
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.3 magnitude quake hitting off japan in an area that does not neat incidents like these. new video buildings swaying and sirens wailing and men and women, children running for higher ground. a reminder of the massive quake and deadly tsunami hit the same area just about a year and a half ago. we'll drill down on that. good morning as we follow up as the earth started to shake earlier today. i'm bill hemmer. welcome to friday. martha: good morning everybody. i'm martha maccallum. last year's tsunami killed and left missing some 19,000 people. as you remember those unbelievable images we saw of the coast which was devstated. it also damaged nuclear power plants and created one of the worst nuclear disasters we've seen in history. bill: we held onto the story for a long time. japan today has canceled the tsunami warning which may be the best bit of news we heard so far. terrifying reminder may not be dismissed. david pipe every streams live out of southeast asia. what is the damage report in japan, david? >> reporter: bill, thankfully there hasn't been any serious damage reports. also no deaths
is supposed to be about the same. it will go to the south korea, china and japan in anticipation of that, japan today, deploying surface-to-air missiles, radar ships and troops just in case this thing goes off course, martha. martha: we've seen these sort of rattling of sabres before. we've seen some of these attempts fail over the ocean but you never know when they will be able get this right. so the diplomatic reaction to all of this, what is the pushback, greg? >> reporter: as you can imagine the reaction has been strong and negative in. in seoul, south korea ambassadors from that country, from united states, japan, russia, china, meeting with foreign ministry officials. japanese prime minister says we strongly call on north korea to refrain, a little bit of backtracking from china today. in their official media they are saying that perhaps the concerns are exaggerated. all this seems to be a chance once again for the new young leader of north korea, kim jong-un to burnish his image. two weeks from today on december 17th, it is the first anniversary of the death of his father kim jong
it will be a concern. we have thousands of troops stationed in japan and korea. there is talk of being able to reach los angeles or the western coast. no north korean test so far has reached that near abroad. bill: what would korea want to prove with this launch? >> always dangerous to try to climb into the mind of a north korean leader. but there would have to be a domestic component to the situation. there are important elections taking place in japan on the 16th and south korea on the 19th of this month. well within the range of this test that is scheduled to come in the coming days. influencing their neighbors and influencing politics and testing new ground with what would a second-term approach be with obama. bill: this is what we believe to be the ultimate range. 5,000 to 6,000 kilometers. 3,700 miles. china to the west here. in japan well within range of north korea were to be successful in developing this launch mechanism. here is hawaii. that's outside the range of the 6,000 kilometers. the question then begs how realistic is it that north korea would be a threat to the united states? >> th
. martha: how different than what happened with japan in the '80s. seems like they owned every building in new york. >> back in the '80s and very early '90s japan actually overpaid. they bought the pebble beach golf course in california and bought rockefeller center in new york. various other properties and paid huge dollars for them and lot of their shirts. this time around with china is not the case. you can't say they're paying a lot of money for aig's plane leasing business or a123. martha: stuart, thank you. see you coming up on the business channel. bill: here is the question for you. how much american debt does china actually own? as the largest foreign owner of u.s. debt it owns more than a trillion dollars in treasury securities. china's holding of u.s. debt has increased 56% over the course of the obama presidency which comes out to about $400 billion more. it has bought or invested in more than $15 billion in more than 100 u.s. companies going pack to january of 2010. that is influence. martha: new numbers raising fresh concerns here at home about our economy. the u.s. consum
.s. allies, japan, south korea condemn the action. philippines, where the rocket landed 200 miles off its shore protested. japan is particularly upset because it flew over the okinawa islands where there is large u.s. presence. south korea is calling for more u.s. sanctions. the most important, china, they are saying want a moderate and prudent response. may well go to the u.n. security council this morning. back to you. martha: so how important is it for north korea's missile regime, missile program i should say they were able to launch this weapon successfully? they have seen several failures in the past? >> reporter: well it is a major scientific achievement if you look at it on that level even though a lot of their people are starving in the country. from what the experts are saying they're still a long way off from being able to fire a ballistic missile with a nuclear warhead. there is problems with the heat from reentry, things like that. but it's, they are moving towards that ballistic missile which could threaten in the future the u.s. mainland. but it does seem a political succes
on the national economy. these two ports have a 44% of the nation's sea cargo. it includes cars out of japan and china. john fund, coauthor of the book "who's counting." you want a raise? you want a clerical worker? the money is pretty good. $87,000 a year. $105,000 with a compensation package. one of the top u.s. blue collar jobs. >> the outrageous thing about this strike is this. the port owners were willing to say all the clerks will have lifetime employment. but if someone retires we want the flexibility to move their job around or eliminate their position and the union said no. these clerks basically still use paper invoices to make sure the cargo moves clearly. a lot of that can be automated. these jobs, $165,000 are apparently forever. as a result of that we had this unnecessary strike and it cost a billion dollars a day and the price of toys may go up on christmas. >> this was not about benefits, vacation or pensions or salary. it was about the job of these clerks monitoring the port car go and their jobs are going to be guaranteed for life. but they wouldn't be allowed to replace th
out from current trends. what's in place will go on forever. we did that with japan 30 years ago. got that one wrong. maybe we shouldn't be extrapolating like this with china. gregg: the other thing that is very conspicuous here is the enormous trade imbalance with china. our trade deficit with china has tripled over the last 10 years. point of fact i just looked it up today. we export 7%. they export 23% to the united states. isn't that a job killer for americans? >> yes it is. there is no question about it. many of the jobs which our fathers and grandfathers had in the united states left a generation ago or 10 years ago, they left for china and that's basic in the relationship between china and the united states economically at this moment. that doesn't change if china becomes the world's number one economy. it might even get worse. gregg: yeah. and china is now overtaken the united states as the world's largest trading partner. >> yes. gregg: we'll talk about that with senator charles grassley coming up next hour. stuart varney, thanks very much. >> thanks, gregg. martha: this whol
is north korea, here is japan, this is the area where the missile took its course. hawaii is about 6,000 kilometers away. you are 3600, 40,000 miles away from the east coast, ask is a little closer than that. you have come up with a scenario that i think is intriguing. you're saying the iranians were there on site when the rocket was launched. >> there are multiple reports from several news organizations right now that where the launch was you had iranian technical experts who have been involved in the missile program in iran. why that is important, the shab missile is based on the typodone2 missile in north korea. the federation of scientists has told us for years that iran has been in bed with north korea sending cash and oil in exchange for their missile technology. bill: they are much closer to reaching the u.s. after something like this. >> yeah, you talk about some of the stuff falling there close to the philippines and so forth. pair in mind a rocket way was launched a couple ever days ago is a multistage rocket. what you're seeing are pieces of the first and second stage. tha
Search Results 0 to 9 of about 10 (some duplicates have been removed)

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